Retirement

Overview

The University of South Florida provides employees the opportunity to participate in different retirement and savings programs. This section offers in-depth resources to help you learn about the retirement programs available or assist in the retirement process. For information about the plans, click the appropriate link that corresponds to your job type.

Retirement Options for Faculty and Administration

All Faculty and Administration employees are required to participate in one of three retirement plans sponsored by the State of Florida. Voluntary retirement savings programs include tax sheltered annuities and deferred compensation plans. 

State Retirement Plans

Faculty and Administration employees may participate in one of the three Florida Retirement System (FRS) retirement plans:  the FRS Pension Plan (FRSP), FRS Investment Plan (FRSI) or Optional Retirement Plan (ORP).   You can find information on  key differences between the plans on the MyFRS website. You only have a short time to decide. View more information about deadlines

Note:  College of Medicine faculty must participate in ORP.

Voluntary Plans

403(b) Tax Sheltered Annuities and 457 Deferred Compensation plans offer employees the opportunity to save money for retirement while reducing their current income tax liability.

Retirement Options for Staff

All Staff employees are required to participate in one of two retirement plans sponsored by the State of Florida. Voluntary retirement savings programs include 403(b) and 457 Plans.

State Retirement Plans

Staff employees participate in one of two Florida Retirement System (FRS) retirement plans:  the FRS Pension Plan (FRSP) or the FRS Investment Plan (FRSI). New employees will automatically default into the FRS Pension Plan unless they enroll in the FRS Investment Plan within their required enrollment period.

You only have a short time to decide. View more information about the related deadlines. 

Voluntary Plans

403(b) and 457 Deferred Compensation plans offer employees the opportunity to save money for retirement while reducing their current income tax liability.

Retirement Options for Temporary Employees

The University of South Florida offers both a qualified retirement plan for part-time, seasonal and Temporary employees not covered by the Florida Retirement System, as well as the opportunity to participate in a Voluntary Plan; 403(b) Plan and/or 457 Deferred Compensation Plans. Temporary employees are automatically enrolled in the Temporary Employee Retirement Plan (TERP) upon employment. For information about the plans, click the appropriate links below.

USF Retirement Plan

Voluntary Plans